Economy
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Nigeria’s excess crude oil account down to $473,754 as of September 2023
The National Economic Council (NEC), says the Excess Crude Account (ECA) balance as of September 2023 is $473,754. The Deputy governor of Enugu, Ifeanyi Ossai, made the disclosure to state house reporters on Thursday at the Presidential villa in Abuja, following the conclusion of the NEC meeting. ECA is the name of a Nigerian government fiscal account that was created…
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Musawa seeks collaboration with NBS for creative ecosystem, economy data
The Minister of Art, Culture and the Creative Economy, Hannatu Musawa, has sought the collaboration of the National Bureau of Statistics (NBS) in providing high quality government owned data to assist in the transformation of the country’s creative landscape. The minister made this known on Thursday, when the Statistician General Adeyemi Adeniran and top management staff of the NBS paid…
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EXCLUSIVE: CBN Governor Cardozo to address the nation on Friday
Governor of the Central Bank of Nigeria Olayemi Cardozo will address the nation by 7pm on Friday (tomorrow), WesternPost can exclusively report. A source close to the CBN governor gave the details of the meeting to our correspondent on the condition of anonymity because he wasn’t authorized to speak with the press. The address will be the first public engagement…
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NNPCL has enough fuel to last beyond yuletide – Kyari
The Nigerian National Petroleum Company Limited has expressed its capacity to supply petroleum products to last beyond this year months and the New Year. The NNPCL said the supply of petroleum products, especially the Premium Motor Spirit, known as petrol, would last beyond the Yuletide and New Year. The Group Chief Executive Officer, NNPCL, Mallam Mele Kyari, said this when…
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SEC commemorates seventh world investor week
The Securities & Exchange Commission (SEC) in collaboration with the Financial Literacy Technical Committee (FLTC), has joined the rest of the world from Monday 20th – Friday 24th November, 2023 to celebrate the 7th edition of the World Investor Week (WIW) promoted by the International Organization of Securities Commissions (IOSCO). World Investor Week is a global initiative of the International…
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Alake tours agencies, urges innovation in operations, internally generated revenue
The Minister of Solid Minerals Development, Dr. Dele Alake has paid a maiden visit to agencies under the ministry, canvassing reforms and adherence to due process in line with the Renewed Hope agenda of the Tinubu administration. Speaking at his first port of call, the Mining Cadastral Office (MCO), the Minister lauded efforts of the agency as the custodian of…
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Why FG should de-dollarised economy, financial experts advise
In other for the naira to sustain momentum against the United States dollar, financial experts and analysts have called for the use and purchase of made in Nigeria goods as against foreign made goods. They also sought for an end to dollarising the economy, saying Nigeria spend about $40 billion yearly importing foods, paying school fee, health care treatment among…
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Works, Steel ministries to revive Ajaokuta Steel Plant for development of road infrastructure
The Ministry of Works, and that of Steel Development have resolved to synergize and strategize in tapping into the opportunities in Ajaokuta Steel Plant for the development of road infrastructure in Nigeria. The ministries made the agreement following the outcome of their inter-ministerial meeting held on Tuesday at the Ministry of Works, Headquarters in Abuja. According to a statement issued…
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Tinubu leads Nigeria to secure $500m renewable energy investment from Germany
The burgeoning economic partnership between the Federal Republic of Nigeria and the Federal Republic of Germany witnessed further expansion and strengthening as two important agreements were signed between Nigerian and German businesses on Tuesday. Speaking in Berlin, Germany, at the 10th German-Nigerian Business Forum, President Bola Tinubu said that with a resilient democracy, Nigeria is well primed to attract foreign…
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FG revokes 1,633 mining licences, reads riot act to illegal miners, vows clampdown
The Federal Government has announced the revocation of 1,633 mining licenses due to default in payment of stipulated service fees by operators. The Minister of Solid Minerals Development, Dele Alake, made the announcement on Tuesday while addressing a press conference in his office. He stated that the revocation becomes imperative following the expiration of a 30-day notice to defaulters, as…
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